Pre-1982 copper pennies?

[TheGolfGuy]

I save them... What are you your opinions?

 

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[Styfflin]

Save a certain amount, then sit and wait for copper prices to go up. I have approximately ten full coin counter bags, which is way more than enough for me. You're probably better off taking them all back to the bank and putting them towards your hunting fund, but it's a fun thought thinking you can double your money saving cents.

 

[ArkieBassMan]

I save them out of my own pocket change and metal detecting finds. I do not go out and actively seek them out.

 

[Dozer D]

I have several $$$ face of coppers, now of I can only find a buyer when the price goes a little higher. Right now price is $.0136 each. I can wait however

 

[FormerTeller]

I'll search cents when I'm really bored. Currently have $960 fv copper, will probably quit when I reach $1,000 (100,000 pennies LOL),

 

[Liu21]

in the history of time, Copper Coinage has been the lowest form of coined money... SO yeah I keep all i come by, I have 75$ in face value of pre82 cents. Most came from when i searched pennies. wouldnt hurt to keep 3-4 boxes of pennies lying around the house anyways...

 

[iammoleman2]

I keep 'em. Although copper isn't a precious metal it does have value, and not just monetarily. Who knows what the future brings but a little stash of copper might be just as important as food, water, ammo, gold, and silver, etc. I won't be filling the spare room with them but having 50-100 pounds isn't unreasonable.

 

[galenrog]

As I have written on other sites when this question comes up, "There is a Market for Everything". While the premium for .950 copper cents is low, it is still there. Then come the categories of wheats and errors. eBay, while a good resource to determine market conditions, is not where I would want to sell. I find that many copper buyers are preppers who are increasing their barter assets. Others are speculators. A few are hoarders. Craigslist is my primary source for buyers. Currently, a 15% to 25% premium can move them fairly quickly in western Oregon.

I package in coinlok bags, in volumes of $50 and $100. When asked for $25 face, I do ask a higher premium.

 

[Peyton Manning]

I save em, may want to make my own copper pipes someday

 

[enamel7]

And don't forget some of the 82s are copper also.

 

[jrf30]

Craig's List has been my prinary source of buyers too, although the last 2 years I've hoarded and not sold, as prices are too low. I was getting (And selling) at 1.6X face for a long time, then 1.5X. Now it is low, and I won't sell until I can get that again. So I've been working, and holding, and I'm up to about 450,000 in storage right now in copper pennies. SOmedsy, when I start selling again, I'll have enough to sell fast and furious for a while, as I whittle that beack down. yep, about 450,000 in hand.

 

[Pete_Iredale]

I suspect you'd be better off doing something else with that $4500...

 

[LooseChange]

I suspect you'd be better off doing something else with that $4500...

Speculation is a funny thing.

Sure thing, everyone does it.
Guaranteed flop, no one does it.
In between, someone is likely to "risk" it.

When the risk is solely opportunity cost, it is hard to argue that it is a wholly foolish risk.

 

[baddbluff]

I suspect you'd be better off doing something else with that $4500...

I totally agree with this.
If you could sell it for $5k, I'd take it. I could buy a lot of half boxes with that much dough and could EASILY double it in a year. You have no idea what it'll be worth a year from now - could drop even more and they could be totally unsaleable.

 

[gmrestoparts]

Those copper coins are what started my coin addiction a few years ago when the copper value of a penny was .02 I started there, then went to nickels then dimes...and finally halves. If I could just get my bank to order IKES, I would start going through those rolls as well.

 

[Spizzerinctum]

But they will never be worth less than he paid for them so where is the risk?

I totally agree with this.
If you could sell it for $5k, I'd take it. I could buy a lot of half boxes with that much dough and could EASILY double it in a year. You have no idea what it'll be worth a year from now - could drop even more and they could be totally unsaleable.

 

[LooseChange]

I totally agree with this.
If you could sell it for $5k, I'd take it. I could buy a lot of half boxes with that much dough and could EASILY double it in a year. You have no idea what it'll be worth a year from now - could drop even more and they could be totally unsaleable.

This is only relevant if it is an either/or. Just because JRF has $4500 in stacked brass cents doesn't mean that he couldn't roll hunt as many halves as he has time for.
IMO, there is very little difference in lost opportunity between that $4500 sitting in pails -vs- getting 0.31% interest in an 18mo CD.

 

[jrf30]

"I could buy a lot of half boxes with that much dough and could EASILY double it in a year" Not out here. Over 100 boxes of halves skunks in a row. then I stopped. ANd if I get 1.5 cents per penny in 3 years, that is 50% in 3 years. A better return than most mutual funds and ALL bank CDs. And I've sold almost $1,000 in the past for 1.5 cents per, so I know it can happen. I'm patient. ANd think I'll get that 1.5 cents in a few years. SO that is worth it to me.

 

[SFBayArea]

Good to hear from jrf30. Haven't heard from you in a while.

There's a guy in these parts (basically my competition) who told me he's got 14K in copper cents in the garage. His wife made him stop. LOL. I'm thinking he's really holding for the day the government allows copper cent melting or stops producing cents. I think they will eventually stop producing cents but don't know when. He's stopped with the pennies but moved on to halves. LOL. He's taken some of my ordered boxes but oh well, that's part of the game.

 

[Dozer D]

I'm sure that we will see again the piece price of a copper cent to be back up there on the $0.025/each or higher like it was back in 2011. It's just a matter of time, and if you can hoard them with the small cash outlay, storage space will be the bigger problem. Getting a 150% return on each cent is far better than any CD, stocks, mutuals, even if it is held a few years.